Cleveland-Cliffs ‘No Longer in a Hurry’ on POSCO Deal, CEO Says

Cleveland-Cliffs Inc.’s chief executive officer said improving US steel prices and stronger demand from the American auto industry are taking the pressure off closing a deal with South Korea’s POSCO Holdings Inc.

“Our situation is getting better and that’s changing our perception of how this deal should be taken care of,” CEO Lourenco Goncalves said Monday in an earnings call. “We are no longer in a hurry.”